Home rental company Airbnb (NASDAQ:ABNB) is getting a boost as travel recovers around the world.
Data analytics firm AirDNA reports that Airbnb’s supply has more than doubled over the past four years, while surpassing the supply of traditional hotel chains combined.
The appeal of short-term rentals with larger living spaces and locations in remote destinations has proved appealing to customers of Airbnb, especially during the pandemic, allowing it to perform better than traditional hotels and other forms of lodging over the last year, according to AirDNA.
Airbnb’s global active listings increased by 2.5% in February 2021, compared with a year earlier, as travel begins to recover around the world.
Globally, there were over 5.4 million active listings on Airbnb in February, with more units available for rent than the combined total of 3.3 million units available at hotel chains Marriott, Hilton, and IHG combined, said AirDNA.
Airbnb had a supply of 2.3 million units at the start of 2017.
